BIOMETRIC RISKS- HOW TO DEAL WITH THE CHALLENGES

Abstract

The advent of Internet has introduced our society with the security related threats, and after the introduction of IT Act 2000 these threats have entered and strongly infected the financial field. In addition to growing needs for speedy, accurate and reliable security, biometric technologies has been flaunted as the most potent technology in dealing with the identification and authentication issues. So in many countries nowadays biometric system has started to penetrate into financial sector. This paper presents a brief picture about all the threats associated with Biometrics when same is set up and is used for authenticating financial transactions. The paper reviews and incorporates the various studies associated with biometric system where the risks related to the technology is explored and discussed. The aim of the paper is to accustom us with the challenges which biometric technology will come across when same is implemented for authentication financial transactions. After analyzing various threats the study also suggests the ways of overcoming the risks related to the biometric technology.